As I stated yesterday there was a ton of information that needed to be processed. One of the topics that has been swimming through my brain all night and all of today.

He said that governments are 100% in favor of going to crypto as a payment system. Of course I asked why he thought that?

Crypto would give the governments absolute control of the monetary system then. While the can manipulate any fiat to a degree, they cannot control what people are holding and stashing away. Crypto’s can also be manipulated even easier then fiat, gold, silver, oil and any other asset.

I try to explain it in a little more detail.

The banks are the ones that are lobbying to keep the governments from going crypto. Big business with big contributions to the right people keep it at bay for now.

The government could shut down the internet at any point they want leaving crypto’s useless. While they could shut banks down as well, they can’t stop the fiat that is already in circulation. Even though fiat is just a promissory note, it is something held in your hand. Crypto’s can not be used without the internet.

He stated that if crypto’s ever do get into the government system that it will only be a few select crypto’s that will survive leaving all others worthless.

Do you agree with this thought? I’m not knowledgeable in crypto enough to be able to dispute this so I’d like to know what your thoughts are.